Chapter 13

Increase in the value of property. The appreciation may arise for many possible reasons, such as inflation, construction of higher priced homes in the neighborhood, tax incentives, and ...

A form completed out by a borrower specifying personal and financial data to be considered by the lender in evaluating borrower risk. The information typically includes the following: ...

A Bill of Sale is a formal document of the sale of goods or the transfer of title for personal property and chattel from one party to another. In sum, a bill of sale is a sort of receipt. ...

Three basic methods for setting values on property: (1) The cost approach estimates the replacement value of real property. (2) The comparable sales approach compares properties with other ...

A lien is a legal instrument by which one party – usually lenders and creditors - guarantees the obligation of a real estate owner to do something – generally repays the money. ...

Real estate term describing a buyer who is prepared to comply with terms and conditions of a purchase contract and has the financial ability to complete the transaction. In a property ...

Agreement by a lender to loan money to suitable borrowers within a given time period but without identifying those borrowers. ...

Annual return rate of capital invested in a wasting asset. The capital is returned from the depreciating asset's earned income. ...

“What states allow tiny houses?” – that’s a very simple question that yields a very complicated answer.And that’s because: Building codes vary not only from ...

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small fortune. Most loans these days do not ...

Now that you’ve learned how much does a real estate agent make, you’re wondering who pays the real estate agent? Get ready for a non-answer. Or a super-answer. It’s a ...

Basic points relates to changes in the interest rate for your home. ...

A rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing a specific interest rate for a specified amount of time. ...

When a home is marked “as is”, it means the home seller will not take part on any renovations, will not fix any defects the home buyer might bump into. If the home buyer wants ...

To figure out where you stand on the debt-to-income ratio, you must first understand the meaning of the figure. Most lenders use the ratio 28/36. The first number, which is also referred ...

Considering that property depreciation is the phenomenon of an asset losing worth due to its use over time, home depreciation is not only common but inevitable. However, this is ...